Vodacom Agress To Sell Tanzania Phone Towers

Vodacom Agress To Sell Tanzania Phone Towers

From Independent Online

Vodacom Group Ltd. has agreed to sell 1,149 phone towers in Tanzania to an infrastructure company backed by investors including George Soros.

The wireless carrier, South Africa’s largest, will obtain a 24.5 percent stake in the tower company, Helios Towers Tanzania, as part of the deal, according to a statement from Helios today. No financial details were disclosed. Helios Towers Tanzania is a unit of Helios Towers Africa.

Infrastructure disposals can help wireless carriers reduce costs and focus on customer services and marketing.

Vodacom, seeking to boost earnings as revenue from domestic voice connections falls, will lease back the towers from Helios.

Read more at Independent Online.